Saturday, October 22, 2016

Calverton is an ex-mining village which has grown in size over the past few years. With a population of over 7000, it is almost the size of a small town but still retains its great sense of community. The village centre is a bustling place to be, with shops, cafes and even a weekly car boot sale! With close access to the Sherwood Forest countryside, and Nottingham city centre alike, the village is a popular choice with many types of tenant. There are a choice of good primary schools, a state comprehensive and an independent school. With 2 golf clubs and a well serviced leisure centre, the area is a great choice for families.Despite such benefits, Calverton house prices still remain reasonable; semi detached properties sold for an average price of £142,683 in 2015.So, what should you buy to let in Calverton?Properties in Calverton range in styles from ex local authority properties offering large room sizes for lower asking prices, to modern, nearly new properties which still benefit from their NHBC warranties. Both types will appeal to tenants for different reasons. With an older property there may be more work to do, but you may be able to add value to the property. Newer properties should have little or no maintenance required and so therefore should be quicker and easier to let. Properties on a new development should also benefit from higher capital growth.Have a look below at some great investment potentials:http://www.rightmove.co.uk/property-for-sale/property-44776275.htmlThis property is on the market with JR Estates with an asking price of £139,950. I would expect to achieve at least £650 PCM, giving a healthy return of 5.5%.

The property below is a great example of a newer property in a modern development:

Wednesday, October 19, 2016

This is a great example of a modern family home in the ever popular village of Calverton. Always a good choice for investors, properties on a development like this will let very easily with very little maintenance required. I would say we could achieve around £695 for this property. Bought at the asking price of £155,000 this would see a return of 5.5%. The property is being marketed for sale by Gascoines, full details are here:http://www.rightmove.co.uk/property-for-sale/property-56337229.html

Saturday, October 15, 2016

We are seeing such high demand for rented property in Bingham and it seems to be mirrored across the UK. After talking to fellow franchise
owners it seems all parts of the country are seeing unprecedented demand for
rental homes.

It got me thinking about the numbers. Looking at the figures
from the Office for National Statistics (ONS) relating to families and
household numbers in the UK, it showed some interesting results.

The total number of families in the UK is just under 19
million, of that 12 ½ million are married couples.

If you compare the figures from 1996 to those for 2015 - Numbers
of married couples with children has decreased by 10% since 1996
but the numbers of married couples without children has increased by 4.6% over the same time period.

Interestingly the numbers of co-habiting couples with
children is currently just over 3 million, and this number has increased by 130 % since 1996. The
number of co-habiting couples without children has increased by 105%.

The number of lone parent families is currently sitting
around the 3 million mark and has seen a 23% increase in numbers since 1996.

The growth in the numbers of families is mainly in the
co-habiting couples – in my opinion are the most likely to be renting; typically
early on in a relationship and not in a position to secure a mortgage. The
number of lone parent families has also seen an increase. Rental properties can
provide accessible housing for those going through a change in circumstances and
there needs to be good quality rental property available.

We are seeing
the low levels of house building across England, in the year to June 2016 there
were just under 140,000 finished new build houses. The ONS state if the number of households in England grows to 24.3 million in 2021 as
projected, this would be equivalent to an additional 221,000 households per year.
We really need to see some more house building or we the current housing market
crisis will continue.

In my opinion it illustrates the national problem we are
seeing with the housing market and the struggle families are going to have
until something changes. The only way to relieve the pressure on the existing
rental market stock is to build more houses. Until we do rents will keep on increasing
and there will be big competition for each new listing.

If you are considering investing in rental property in the
Bingham and the surrounding areas please follow my property blog for honest advice on potential
rental returns.

Monday, October 3, 2016

The recent report from the Institute of Fiscal Studies
prompted some interesting headlines around the wealth and income of 30 year
olds today vs 30 year olds 10 years ago - just before the recession kicked in.

The study showed by the age of 30 that the property wealth of
those born in the 1970's was nearly double that of the property wealth of people
born in the early 80's when they reached the age of 30.

As for incomes - the figures show that those born in the
early 80's do not have higher incomes than their predecessors did at the same
age. This partly reflects the impact of the recession on the incomes of
working age households. It is also the result of a period of sluggish
income growth from the early 2000's onward and the weakness of the recovery in
incomes since the recession. For those aged between 25 and 55 the real
average income in 2014-15 was only 2% higher than a decade earlier, compared
with an increase of 26% between 1994-95 and 2004-05.

When looking at Bingham sold house prices so far this year -
using the data on Rightmove and the Land Registry - Modern 2 bed semis are selling
for £170,000 and 3 bed family homes are going for over £200,000.

With house prices rising (I believe this has a lot to
do with the lack of supply) and incomes not keeping up it's easy to see why so
many people are renting for longer. This fuels rent increases as there are
fewer properties available to let and this in turn makes it harder for people to save. It
does seems to be a continual cycle which can only be broken, in my opinion by the
building of more houses. Let's hope 2017 brings a more optimistic housing
market for the young people of Bingham.

If you are considering purchasing a property to let
please do give me a call for an honest opinion on rental returns
in and around Bingham.

Saturday, October 1, 2016

East Bridgford is a popular, sought after village with a great community, including an excellent primary school. This flat could make a sound investment for someone looking to buy to let in the area, and could see a healthy return of 5%. A property of this type should also see some capital growth.Here are the details and photos: http://www.rightmove.co.uk/property-for-sale/property-61390415.html

Katie Archer

The Bingham Property Blog

I am Katie Archer from Belvoir Lettings in Bingham and in this blog, I will talk about what is happening in Bingham’s property market, looking at the town and surrounding area, and even researching specific streets or housing estates.

You'll find my tips, guidance and analysis that relates specifically to the property market in Bingham and surrounding villages and you will also find properties from all the estate agents in the local area on here that may make decent buy to let investments.

From our office in the centre of Bingham, I offer free, impartial buy to let advice for landlords investing in Bingham, Newton, Calverton, Burton Joyce, East Bridgford, Gunthorpe and surrounding villages.

If you see a potential deal, and want a second opinion, pop into the office or email the Rightmove link tokatie.archer@belvoirlettings.comand I will always give you my honest opinion on the property and it’s investment / buy to let potential.

**Please note any values are for guidance only as the properties may have not been fully appraised and are based on details available online. The % returns are gross so do not include any running costs of the let.**